公司金融学习题精选
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1Which one of following is the rate at which a stock's price is expected to appreciate?
A、current yield
B、total return
C、dividend yield
D、capital gains yield
E、coupon rate
正确答案： D
2Which one of the following functions should be the responsibility of the controller rather
than the treasurer?
A、daily cash deposit
B、income tax returns
C、equipment purchase analysis
D、customer credit approval
E、payment to a vendor
正确答案： B
3Which one of the following best describes the concept of erosion?
A、expenses that have already been incurred and cannot be recovered
B、change in net working capital related to implementing a new project
C、the cash flows of a new project that come at the expense of a firm's existing cash flows
D、the alternative that is forfeited when a fixed asset is utilized by a project
E、the differences in a firm's cash flows with and without a particular project
正确答案： C
4Which one of the following statements correctly states a relationship?
A、Time and future values are inversely related, all else held constant.
B、Interest rates and time are positively related, all else held constant.
C、An increase in the discount rate increases the present value, given positive rates.
D、An increase in time increases the future value given a zero rate of interest.
E、Time and present value are inversely related, all else held constant.
正确答案： E
5Which one of the following best illustrates erosion as it relates to a hot dog stand located
on the beach?
A、providing both ketchup and mustard for its customer's use
B、repairing the roof of the hot dog stand because of water damage
C、selling fewer hot dogs because hamburgers were added to the menu
D、offering French fries but not onion rings
E、losing sales due to bad weather
正确答案： C
6By definition, which one of the following must equal zero at the accounting break-even
point?
A、net present value
B、internal rate of return
C、contribution margin
D、net income
E、operating cash flow 正确答案： D
7Which of the following should be included in the analysis of a new product? I. money already
spent for research and development of the new product II. reduction in sales for a current
product once the new product is introduced III. increase in accounts receivable needed to
finance sales of the new product IV. market value of a machine owned by the firm which will
be used to produce the new product.
A、I and III only
B、II and IV only
C、I, II, and III only
D、II, III, and IV only
E、I, II, III, and IV
正确答案： D
8Spencer Tools would like to offer a special product to its best customers. However, the firm
wants to limit its maximum potential loss on this product to the firm's initial investment in the
project. The fixed costs are estimated at $21,000, the depreciation expense is $11,000, and
the contribution margin per unit is $12.50. What is the minimum number of units the firm
should pre-sell to ensure its potential loss does not exceed the desired level?
A、1,220 units
B、1,680 units
C、2,215 units
D、2,560 units
E、2,750 units
正确答案： B
9The specified date on which the principal amount of a bond is payable is referred to as which
one of the following?
A、coupon date
B、yield date
C、maturity
D、dirty date
E、clean date
正确答案： C
10What is the effective annual rate if a bank charges you 8.25 percent compounded quarterly?
A、8.32 percent
B、8.38 percent
C、8.42 percent
D、8.51 percent
E、8.61 percent
正确答案： D
11Miller Brothers Hardware paid an annual dividend of $0.95 per share last month. Today,
the company announced that future dividends will be increasing by 2.6 percent annually. If
you require a 13 percent rate of return, how much are you willing to pay to purchase one
share of this stock today?
A、$9.23
B、$9.37 C、$9.67
D、$9.72
E、$9.88
正确答案： B
12The current dividend yield on Clayton's Metals common stock is 3.2 percent. The company
just paid a $1.48 annual dividend and announced plans to pay $1.54 next year. The dividend
growth rate is expected to remain constant at the current level. What is the required rate of
return on this stock?
A、7.25 percent
B、7.82 percent
C、8.08 percent
D、8.39 percent
E、8.75 percent
正确答案： A
13Which one of the following is an example of a sunk cost?
A、$1,500 of lost sales because an item was out of stock
B、$1,200 paid to repair a machine last year
C、$20,000 project that must be forfeited if another project is accepted
D、$4,500 reduction in current shoe sales if a store commences selling sandals
E、$1,800 increase in comic book sales if a store commences selling puzzles
正确答案： B
14Which term relates to the cash flow which results from a firm's ongoing, normal business
activities?
A、operating cash flow
B、capital spending
